ASX Small & Mid-Cap Conference presentation Bruce Coombes, CEO 9 September 2020
Introduction to QuickFee Smart, scalable, sustainable A platform that borrowers rate highly A proven platform providing cash flow certainty 90 % of users found that accounting and law firms offering payment plans is very important. 92 % of users found the QuickFee payment plan application very or extremely easy. • QuickFee provides financing to • QuickFee has a proven business model 69 % clients of accountants and lawyers with approximately 11 years operating (professional service firms) in Australia and four years in the US of business users selected • High credit quality as loans • QuickFee AU maintains a credit monthly payments to help guaranteed by professional firm insurance policy to mitigate against the with their cashflow. risk of default Investor Presentation 9 September 2020 2
Significant global opportunity Huge professional services market in the US Source: IBISWorld Investor Presentation 9 September 2020 3
Multiple revenue sources COVID-19 accelerating trend towards online payments All things payments, all things receivables for professional service firms Source AU market US market Interest and fee income from YES YES lending Platform fees Some YES Transaction income NO YES Net credit card processing NO YES income SaaS e-invoicing tool revenue CY20 release CY20 release Investor Presentation 9 September 2020 4
FY20 financial overview Capitalising on first mover advantage in the US US lending US lending book +63% +52% Revenue US$13 US$6. .0m +47% US$8. US$4. 6m 0m 4m FY19 FY20 FY19 FY20 A$8.5 m A$5.8 AU lending AU lending book m +15% +17% FY19 FY20 A$27. A$49. A$23. A$42. 5m 3m 8m 0m FY19 FY20 FY19 FY20 FY20 Results August 2020 5
US market is modernising Creating significant opportunities for QuickFee • Huge opportunity to grow both lending revenue and transactional revenue with the ‘modernising’ of the US market and our first mover advantage % of invoices sent electronically • Growing numbers of new firm sign ups a leading growth indicator • The trend towards electronic invoices represents significant upside – In Australia, around 84% of invoices are sent electronically vs 32% in the US – As this increases in the US, we expect this to lead to more loans, and to generate more transactional revenue • QuickFee is well positioned to capitalise on this trend % of firms Source: QuickFee CSAT survey (February 2020) Investor Presentation 9 September 2020 6
COVID-19 accelerated shift to online payments in the US Transaction value annualised run rate now US$554m; annualised revenue run rate at US$1.5m Pay in full (up-front payments) weekly transactions processed (USD) since COVID-19 lockdown Value of electronic payments $11,000,000 processed by QuickFee US $10,000,000 Week commencing: $9,000,000 US$4.4m ▲ 9 March: US$4.9m ▲ 16 March: $8,000,000 US$6.4m ▲ 23 March: 15 April $7,000,000 tax deadline US$7.2m ▲ 30 March: US$7.6m ▲ $6,000,000 6 April: US$8.2m ▲ 13 April: $5,000,000 15 July US$8.4m ▲ 20 April: tax deadline $4,000,000 US$9.6m ▲ 27 April: $3,000,000 2-Mar 9-Mar 16-Mar 23-Mar 30-Mar 6-Apr 13-Apr 20-Apr 27-Apr 4-May 11-May 18-May 25-May 1-Jun 8-Jun 15-Jun 22-Jun 29-Jun 6-Jul 13-Jul 20-Jul 27-Jul 3-Aug 10-Aug 17-Aug Week commencing Investor Presentation 9 September 2020 7
Pivoting to ‘next level’ technology Accelerating tech investments to capitalise on market shifts • Structural market shift is underway – professional services firms are ‘digitising’ – COVID-19 has accelerated this shift Current tech developments • QuickFee is currently completing its e-invoicing and accounts receivable management system – This functionality will allow firms to automate electronic invoices through the QuickFee platform – Expected to receive strong demand for this functionality, particularly in the US – Anticipate to launch by the end of CY 2020 – e-invoicing expected to drive further interest in payment plans Moving ahead • QuickFee has ambitious plans to benefit from the market shift – Building out the tech team – technical leads now in place – Developing new technology solutions to meet specific needs of the B2B professional services market – Exploring other technology opportunities that can integrate with the QuickFee online platform Investor Presentation 9 September 2020 8
Outlook: capitalising on massive US opportunity Becoming a global market leader as an online payment provider • A strengthened financial position, record new firm sign ups, technology enhancements, and investment in people • QuickFee is in an excellent position to continue to execute on our first mover advantage in the huge professional services market in the US and our North American growth aspirations • Future growth to be supported by: – Strategic alliance partnerships – More accounting and law firms on the QuickFee platform – Structural shift to e-invoicing and online payments in the US to drive further transactional and lending revenue – Investment in technology advancements to capitalise on structural shifts – Recruiting the best talent available to assist us in executing our strategy • Our platform is highly scalable, and readily deployable into new geographic markets where competition is low and the professional market is large. We will continue to plan for entry into these adjacent geographic markets. Timing should become clearer over the course of FY21 Investor Presentation 9 September 2020 9
Questions
Contact details: Bruce Coombes, CEO Eric Kuret, Investor Relations p: +61 418 286 842 p: +61 3 9591 8904 e: bruce@quickfee.com e: eric.kuret@marketeye.com.au
Disclaimer The material contained in this document is a presentation of general information about QuickFee Limited activities current as at the date of this presentation (9 September 2020). It is provided in summary and does not purport to be complete. You should not rely upon it as advice for investment purpose as it does not take into account your investment objectives, financial position or needs. These factors should be considered, with or without professional advice when deciding if an investment is appropriate. This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to QuickFee’s businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward looking statements. QuickFee does not undertake any obligation to publicly release the result of any revisions to these forward looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. While due care has been used in the preparation of forecast information, actual results may vary in a materially positive or negative manner. Forecasts and hypothetical examples are subject to uncertainty and contingencies outside QuickFee’s control. Past performance is not a reliable indication of future performance. To the extent permitted by law, no responsibility for any loss arising in any way (including by way of negligence) from anyone acting or refraining from acting as a result of this material is accepted by the QuickFee or any of its related bodies corporate. Investor Presentation 9 September 2020 12
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